Tips for Making Money with Your Homestead
Most people who start out with a small farm or homestead do so because the lifestyle is fulfilling. Beyond the satisfaction that comes with it, homesteading can bring in a steady profit. Sometimes what starts as a hobby morphs into a business. By maximizing produce and farm good production, you can expand sales. Here are some tips from the Sustainable Living Association on how to create reliable income.
Getting Your Business Started
Homesteaders who wish to start a business need to think about some important details. First you’ll need to decide how to structure your business. Forming an LLC is a popular option and has several benefits, including allowing you to protect your personal assets from any business debts and making it possible to apply for an Employer Identification Number and set up a business bank account.
Once you’ve got those technical details ironed out, consider how you want to present your business to the public: This is your “brand.” Establishing your brand means helping people understand the personality and mission of your homestead. Identify your homestead name and develop a logo for it that shows an element of your style and represents your unique business.
Even if you don’t choose to design your website, whoever you hire will still need your input. Since designing the website is one of the first things you’ll have to do, it will help you think about and develop your brand, since a website can be updated as you go. It’s good to have plotted as much of that out ahead of time as possible, though, since added work to the website is an added cost.
Do you have photos that look good and present you and the homestead well? Remember, these days pretty much any photo can be cleaned up. For example, this online tool can be used to quickly remove the background from any image. A good web designer will put them to good use and a visual theme will start to develop related to the farm.
Put the Farm Out There
Organic products are so popular, you can find grocery stores and co-ops to sell almost anything you make, but you can also make it worthwhile for customers to make the drive to you. If your homestead is fun to visit, you’ll cut out the middlemen by selling direct.
Marketing is a necessary aspect of almost any business.You can save money by advertising via social media, especially sites like Facebook, Instagram, and Twitter. But these are usually in addition to a company website, since your own website is the best way to present the most professional face of the business.
It’s Not All Buying and Selling at the Homestead
If the farm is producing, that’s the most obvious way to earn. But an added step turns farm goods into home goods. Milk the goats for the family but sell the cheese you make or make a goat’s milk soap to sell.
There are, in fact, many ways to earn money from your homestead, and not just by producing and selling goods, providing services. The homestead may be suitable for an artist’s retreat, or if there’s a large-enough roofed area, for weddings or events. Summer camps, internships, date nights – the list of things people will want to do outside the city is long, and you can provide that. Get involved with the local community, and the community will see the homestead as an integral asset.
Homesteaders may find that it is a slow start, but by diversifying your income methods and not relying solely on your products, you will begin to see growth. Another helpful tool for homestead entrepreneurs is an inventory system. Whether you opt to use an Excel spreadsheet to track incoming and outgoing materials and funds or have dedicated software, it’s crucial that you track this data to show your profit margins. This data can guide you toward decisions about your products, material costs, and services, and help you determine if your business is financially sustainable.
Starting your own vlog earns income through clicks and ad revenue. You can show viewers how you plant and harvest crops or manage chickens, for instance. If you gain popularity and establish a following on a channel like YouTube, it can certainly supplement your income. Consider creating content that is useful for customers, including recipes for the produce you grow.
If you’re looking for something a little different, mushroom farming is a great, relatively simple way to add some profitable diversity to your homestead. It’s also one that’s been steadily gaining popularity for a while now. Some homesteaders will find that as their production increases and the business takes shape, it is too much to tend alone. Between the responsibilities of maintaining animals, crops, and web presence, it may be necessary to hire help.
For example, if you have grazing animals on your land, you may want to ensure the health of your grass by hiring lawn aeration services. Similarly, if you bring new animals to your homestead, such as horses, and don’t already have experience caring for them, you may need to seek training and care help from an expert.
Before homesteading was a thing, we had farmers. We still do. Many have been around a long time and they might get a kick out of helping out the younger generation. Farmers have been in touch with the land and know the local weather. They promoted sustainable lifestyles before we knew what to call them. And there’s no better expert than one who has learned through experience.